Market
What will be the impact on global oil prices by June 30, 2025, due to Trump's request?
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Donald Trump•World Economic Forum•Davos•Switzerland•Saudi Arabia•OPEC•Ukraine•Trump•Saudi•Mohammed bin Salman•United States•Russia
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Story
Trump Urges Saudi Arabia and OPEC to Lower Oil Prices to $80 a Barrel to End Ukraine War, Seeks $1 Trillion Investment
Jan 23, 2025, 05:09 PM
U.S. President Donald Trump, speaking remotely at the World Economic Forum in Davos, Switzerland, called for Saudi Arabia and OPEC to lower oil prices, suggesting that such a move could immediately end the war in Ukraine. Trump stated that high oil prices are sustaining the conflict and urged OPEC to reduce prices, expressing surprise that they had not done so before the election. The current price of oil is around $80 a barrel. Additionally, Trump revealed that he had discussed with Saudi Crown Prince Mohammed bin Salman the kingdom's intention to invest at least $600 billion in the United States over the next four years. Trump expressed his intention to ask the Crown Prince to increase this investment to $1 trillion, citing the positive relationship between the U.S. and Saudi Arabia. Analysts doubt Saudi action due to OPEC+ ties and past grievances with the U.S., which could impact efforts to pressure Russia.
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